Complex Made Simple

Iran to boost aluminium sector with $11bn investment

The Iranian Mines and Mining Industries Development and Renovation Organisation (Imidro) has said the country plans to invest around €8.5bn ($11.4bn) in its aluminium industry, as part of plans to nearly quadruple production by 2025, Reuters has reported. Iran produced 338,000 tonnes of aluminium last year and is aiming for 770,000 tons in 2016 and 1.5 million tonnes by 2025, said Panthea Geramishoar, senior expert in Imidro's non-ferrous department at a Metal Bulletin conference in Geneva. He did not give a timeframe for the eight projects involved in the program, but added that bidding was underway for one plant and financing was being arranged for two others.